Millennium Management LLC decreased its stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 41.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 706,341 shares of the real estate investment trust's stock after selling 494,438 shares during the quarter. Millennium Management LLC owned 1.44% of Chatham Lodging Trust worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Chatham Lodging Trust by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,564 shares of the real estate investment trust's stock worth $247,000 after buying an additional 1,216 shares in the last quarter. Quarry LP lifted its position in shares of Chatham Lodging Trust by 23.5% in the fourth quarter. Quarry LP now owns 7,487 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 1,423 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Chatham Lodging Trust by 2.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 63,600 shares of the real estate investment trust's stock valued at $569,000 after buying an additional 1,700 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $25,000. Finally, ExodusPoint Capital Management LP lifted its holdings in Chatham Lodging Trust by 5.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 60,997 shares of the real estate investment trust's stock worth $546,000 after purchasing an additional 3,016 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.
Chatham Lodging Trust Trading Up 0.7%
Shares of NYSE CLDT traded up $0.05 during trading on Thursday, reaching $7.18. The company had a trading volume of 157,118 shares, compared to its average volume of 414,359. The company's fifty day moving average price is $6.93 and its 200-day moving average price is $8.11. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The stock has a market cap of $351.71 million, a P/E ratio of -31.22 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37.
Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. As a group, research analysts expect that Chatham Lodging Trust will post 1.07 earnings per share for the current year.
Chatham Lodging Trust Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio (DPR) is currently 600.00%.
Chatham Lodging Trust announced that its Board of Directors has approved a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several analysts recently weighed in on CLDT shares. Stifel Nicolaus dropped their price target on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wall Street Zen lowered Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th.
View Our Latest Stock Report on CLDT
About Chatham Lodging Trust
(
Free Report)
Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.
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